Kategorie: Bitcoin News

Bitcoin news about the Bitcoin (BTC) blockchain and its crypto ecosystem.

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Elon Musk’s Tesla transfers Bitcoin worth $770M to new addresses

  • Tesla relocated 11,509 bitcoins, valued at $770 million, to new addresses.
  • This marks Tesla’s first Bitcoin transaction since selling most holdings in 2022.
  • Tesla remains the third-largest Bitcoin holder among public companies after MicroStrategy.

Tesla, the electric vehicle giant led by Elon Musk, has recently relocated its entire Bitcoin (BTC) treasury, consisting of 11,509 bitcoins valued at approximately $770 million, to multiple new addresses.

This significant move was reported by analytics firm Arkham Research, which tracked the on-chain data associated with the transactions.

First time Tesla is touching its Bitcoin stockpile

The transfer of bitcoins marks Tesla’s first interaction with its crypto wallets since 2022 when the company sold off the majority of its holdings.

The series of transactions occurred within a single hour and was preceded by six test transactions, indicating a strategic approach to the relocation.

At its peak, Tesla held around 43,000 bitcoins, but according to the latest quarterly report, the company reportedly had about 9,720 BTC, worth roughly $650 million as of October 15.

Arkham estimates that Tesla still holds 11,509 bitcoins across 68 addresses, reflecting a significant adjustment in its cryptocurrency strategy.

Tesla’s past dealings with Bitcoin have been noteworthy. In early 2021, the company made headlines with a monumental $1.5 billion investment in the cryptocurrency, followed by the sale of $272 million worth of bitcoin in the first quarter of 2021, resulting in a profit of $128 million.

By the second quarter of 2022, Tesla sold another $936 million in Bitcoin, garnering $64 million in gains as the market experienced volatility.

Despite these transactions, the recent move to new addresses raises questions about Tesla’s future plans for its Bitcoin holdings. Industry speculation suggests that the company might be preparing for further sales, although no official statements have clarified the intent behind the recent transfer.

As of now, Tesla remains the third-largest holder of Bitcoin among publicly traded companies, trailing behind MicroStrategy and Marathon Digital Holdings (MARA).

Additionally, Musk’s other company, SpaceX, is estimated to hold around 8,285 bitcoins, further emphasizing the significant role cryptocurrency plays in the operations of Musk’s enterprises.

Notably, Tesla continues to accept BTC payments for vehicle purchases, signalling its ongoing engagement with the cryptocurrency landscape.

The post Elon Musk’s Tesla transfers Bitcoin worth $770M to new addresses appeared first on CoinJournal.

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Bitcoin Dogs (0DOG) price prediction: a potential surge in ‘Uptober’

  • October, known as “Uptober,” historically boosts Bitcoin prices significantly.
  • Bitcoin Dogs (0DOG) could surge alongside BTC, with predictions of 100X growth.
  • Upcoming catalysts include a Telegram game and NFT collection driving demand.

As October unfolds, the cryptocurrency market is buzzing with excitement, and Bitcoin Dogs (0DOG) is emerging as a prominent player in this landscape.

Historically known as “Uptober,” this month has seen Bitcoin (BTC) experience significant gains, averaging around 22% in previous years. Analysts are optimistic that Bitcoin Dogs, as a leading beta play in this market, will follow suit and deliver impressive returns for investors.

Historical context and macro conditions

Bitcoin’s average performance through October indicates a strong likelihood of hitting $73,000 before the month’s end.

Coupled with China’s stimulating economic measures and expectations of a 50 basis point cut in interest rates from the Federal Reserve, conditions appear ripe for risk assets, including cryptocurrencies.

In addition, recent geopolitical tensions in the Middle East, particularly with missile launches from Iran, have introduced volatility into the markets.

Historically, such events often present opportunities for savvy investors, as they tend to buy at depressed price levels. The current environment probably presents a last chance to acquire Bitcoin Dogs before potential price surges as market sentiment shifts.

The case for Bitcoin Dogs (0DOG)

Bitcoin Dogs is attracting significant attention due to its positioning within the Bitcoin ecosystem. As the first ICO launched on BTC, 0DOG offers investors a unique opportunity to participate in a historic event that could mirror the early days of Bitcoin itself. The token is a BRC-20 token, meaning it is soft-pegged to Bitcoin’s price and typically moves in tandem with the leading cryptocurrency.

Analysts are excited about Bitcoin Dogs not just because of its price potential but also due to upcoming catalysts. The community eagerly anticipates the launch of a Telegram game, along with an NFT collection.

There is a growing trend in demand for Telegram games, and if Bitcoin Dogs’ offering gains traction, it could quickly elevate the token into the top 100 cryptocurrencies by market cap.

0DOG price predictions for Q4 2024

Bitcoin Dogs (0DOG) is currently trading at $0.007064, reflecting a 2.8% increase in the last 24 hours. With a 24-hour trading range of $0.006616 to $0.007354, the token has shown resilience amidst broader market fluctuations.

Looking forward to Q4 2024, analysts predict that 0DOG could see a price range between $0.76 and $1.12. This upper estimate represents a staggering 100X increase from its current market cap, underscoring the potential for explosive growth. The key drivers behind this optimism include the anticipated performance of Bitcoin itself, with forecasts suggesting that BTC could smash past $74,000.

As liquidity conditions improve and the broader crypto market begins to climb, the fear of missing out (FOMO) among investors will likely kick in, paving the way for another altcoin mania. Being a part of the leading meme coin network, Bitcoin Dogs stands to benefit significantly from this momentum.

Conclusion

The narrative surrounding Bitcoin Dogs is compelling, particularly as Uptober has historically proven to be one of the best months for Bitcoin.

With analysts expecting significant gains in BTC, 0DOG is poised to capitalize on this upward trend. Investors looking for leveraged returns on Bitcoin would do well to consider acquiring 0DOG during this pivotal month.

If interested in 0DOG, you can visit the official Bitcoin Dogs website to learn more.

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Bitcoin firm Blockstream secures $210m to drive layer-2 growth

  • Blockstream will use the $210 million debt funding to boost adoption of its layer-2 solutions
  • The company will also utilise the funds to add to its mining operations and treasury.

Blockstream, a Bitcoin infrastructure company founded by industry OG Adam Back, has announced it raised $210 million to fund various aspects of the company’s business.

Firm eyes L2 growth, mining and Bitcoin treasury

Blockstream said in a press release on Oct. 15 that the convertible note round, led by venture capital firm Fulgur Ventures, will help to fast-track the adoption of its layer-2 platforms. Blockstream will also use part of the funding to boost its mining operations ahead of “the next Bitcoin market cycle.”

In August 2023, the firm raised $125 million that it used to expand its mining as the market looked to the 2024 Bitcoin halving that happened in April.

As well as the L2 initiatives, which includes the Liquid Network sidechain launched in 2018, Blockstream is eyeing further growth by using the funding to purchase more BTC. The company is one of the largest holders of Bitcoin.

“This latest fundraise represents a defining moment for Blockstream as we embark on a critical new phase of growth to further bridge the gap between Bitcoin and the wider world of finance,” said Blockstream co-founder and CEO Adam Back.

As well as the debt funding, Blockstream announced that it had expanded its leadership with a new appointment. Michael Minkevich will now steer the company’s next growth phase as the chief operations officer. The new COO formerly worked at publicly-traded firm Luxoft as a product engineer lead.

The post Bitcoin firm Blockstream secures $210m to drive layer-2 growth appeared first on CoinJournal.

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UK man sues council after it denied requests to dig for lost Bitcoin hard drive in landfill

  • James Howell has been trying to get his lost hard drive back for 10 years
  • Howell mined 8,000 Bitcoin on his laptop after learning about Bitcoin in 2009
  • The council have denied Howell’s requests to dig due to “environmental concerns”

A 39-year-old man is suing Newport City Council for $646 million (£495,314,800 million) in damages after losing his hard drive at a recycling center containing 8,000 Bitcoin.

James Howell accidentally threw out his hard drive in 2013 during a household clearout. According to WalesOnline, Howell had two hard drives of the same size. One was blank, while the other contained his Bitcoin.

He mistakenly put the one containing the Bitcoin into a black bin bag, which his then-girlfriend took to the tip. At the time of his loss, his Bitcoin was worth around $1.3 million (£1 million). However, within three months, their value had risen to around $11.7 million (£9 million).

Howell has reached an agreement, leaving him with 30% of his Bitcoin if the hard drive is found. The remaining would be split between his backers, the recovery team, and the council.

Howell states that despite meeting a representative of the council in 2013, he’s been “largely ignored.”

“I’m still allocating 10% of the value for the council even though they have been problematic throughout,” he said. “That would be £41m based on today’s rate but in the future, it could be hundreds of millions.”

Environmental concerns

A court filing states that Howell’s hard drive is located in Cell 2- Area 2 of the Docksway landfill.

If the hard drive is located, the dig would take around 18 to 36 months followed by 12 months of remediation work. Yet, despite promises to safely excavate the Newport site and to modernize the landfill, the council have rejected Howell’s requests to dig due to “environmental concerns.”

Howell’s lawyers claim that the council have “simply ignored” that 10% of Bitcoin could bring “a huge and desperately needed investment in the local community.”

Lawyers for the council argue that the hard drive belongs to the council because it was dumped at the tip. However, Howell’s lawyers deny this, claiming that the hard drive was never intended to be thrown away.

Howell said he didn’t want to go to court, but “this is the final shot.”

The case is expected to be heard in December.

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Mt. Gox delays repayment deadline, pushes it to October 2025

  • The defunct exchange had an original repayment deadline of October 31, 2024
  • Mt. Gox said the delay was down to creditors not completing the repayment steps and issues arising from the repayment process
  • In 2024, Mt. Gox collapsed following a security breach, resulting in the loss of 850,000 Bitcoin

Defunct crypto exchange Mt. Gox has pushed its repayment deadline to October 2025, adding another year from its original date.

According to a statement from the exchange, it will now repay creditors on October 31, 2025.

“As it is desirable to make the Repayments to such rehabilitation creditors to the extent reasonably practicable, the Rehabilitation Trustee, with the permission of the court, has changed the deadline for the Repayments from October 31, 2024 (Japan Standard Time) to October 31, 2025 (Japan Standard Time),” Mt. Gox said.

This marks the second time the platform has moved its deadline. In a 2023 statement, the platform announced that it was moving its repayment deadline from October 31, 2023, to October 31, 2024.

Launched in 2010, Mt. Gox was the biggest crypto exchange, handling around 70% of Bitcoin transactions, before a hack in 2014 caused its collapse. As a result of its security breach, the exchange lost around 850,000 Bitcoin.

In July, it began repaying creditors around $9 billion in recovered assets; however, according to data from Arkham Intelligence, Mt. Gox still holds 44,905 Bitcoin worth around $2.8 billion.

In the latest statement from the defunct exchange, the delay is down to two things: creditors haven’t completed the necessary steps for repayment and because of issues arising from the repayment process.

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